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You're correct. I messed up the first year calculation. I've spent a lot of wasted time looking around the internet for the method to determine taxable from non-taxable portions of periodic RRIF withdrawals. And spoken to 4 Turbotax product and "tax specialists" without getting a good answ...

Computing the taxable portion of initial and subsequent periodic RRIF withdrawals: Contributions in plan as of US arrival: 10k Mkt value on arrival day: 25k (Due to ignorance about wisdom of crystalizing value on entry day) ... Fast forward 20 years. Market value of RRSP converted to RRIF = 80k (RRS...

<i>TDWaterhouse certainly does</i> NelsonA, you MADE my day...and week...and year. I just verified that TDW DOES allow me to retain my RRSPs or RRIFs as a permanent US resident. And more importantly, continue to make trades -- tho not directly through the online brokerage account --only through TDW'...

<i>And keep in mind that the first year of the RRIF, you would not get this rate. You would still get 25% tax.</i> Your comment prompted me to re-read Clause 286, referred to earlier, looking for the 25% withholding on the first year of RRIF withdrawal and couldn't find a reference. Is there another...

RE: <i>Just to clarify, by treaty, the rate for US residents of a periodic RRIF withdrawal would only be 15%. The definition of periodic being up to twice the required yearly withdrawal.</i> I was researching this aspect recently and it appears that the definition of periodic withdrawal for RRIF pur...

For anybody else who considers the Section 217 Election at some time in the future: Receiving a Canadian pension and CPP as a non-working spouse prevents me from reducing taxes thru a Section 217 filing if I want to collapse my RRSP. Based on my understanding of what you've said and the exercises I'...

I spent some time digging into the General Income Tax and Benefit Guide for Non-Residents of Canada to ferret out the discussion on death benefit as per Schedule C, Part 1. CRA treats several cases, including when it is a CPP death benefit and when it is not. In all cases, they're looking for either...

[b]BTW remember that your CPP is no longer taxable in canada from the day you left[/b]. Thanks! I was aware of it... but I'm wondering whether I should leave blank the line 2 of Schedule C that asks for CPP OR, enter CPP on that line and and then look for someplace else to deduct it out again (tho l...

Living in US as dual. I'm working thu the Section 217 process to see whether it is worthwhile to request some withholding tax back from Canada. Bulk of income was CPP and a pension from Canada. Add only a 3k contract job and a 3k death benefit from father-in-law's passing. If I only consider the abo...

[quote="nelsona"]And why you would have US securities in your RRSP is beyond me. I'd invest anywhere in the world where the potential returns look most favorable. Most of my investable assets are unfortunately tied up in Canadian RRSPs. The investment opportunities, available research and ...

Dual citizen receiving Cdn pension living in US. and holding RRSPs in Canada. Two questions: 1. Is there any way to recoup the Cdn tax paid on my pension using the foreign tax credit rather than claiming the Cdn tax as an itemized expense, since the latter would recoup only about 25 to 30 cents on t...

NelsonA: [b]Actually, the foreign tax credit provisions of the respective tax codes are what prevent double taxation in this case, not the treaty.[/b] I'm trying to get back up to speed again on this particular issue. Last year, it seemed that it was VERY difficult to use the foreign tax credit beca...

>>>(Keats is wrong on this one)<<< Har Har! How did you know? :wink: There was an article in the Chicago Tribune last week bemoaning the 67,000 page tax code that nobody can ever master. It went on to say that 5 different CPAs came up with 5 different ways to treat a certain not uncommon situation t...

Thanks for a reply on the detailed mechanical question. I appreciate it. This return came out pretty ugly in terms of paying tax to both countries. I ended up taking the expense deduction, rather than a tax credit. As you know, that only gets me a percentage offset rather than the dollar-for-dollar ...

At this late date, I'm trying to submit tax forms myself rather than go through a pro, tho I realize I could file for an extension. I understand from this board that CPP can be treated just like US Social Security and entered on lines 20a and 20b of Form 1040. Just like to confirm an understanding h...